HSBC (HSBC.US) is looking for a new CEO for their UK business to drive the company's transformation.

HSBC Bank (HSBC.US) announced on Tuesday that it has begun the process of finding a new CEO for its UK operations, after appointing Ian Stuart to the newly created position responsible for customer engagement and culture. In a statement, HSBC said this move is part of its transformation towards a "simpler, more dynamic, and more flexible organization" through four key business lines. Group CEO Georges Elhedery said, "In this new role, Ian will continue to challenge the Group Operating Committee, shape the culture, and ensure that every decision and action we take is informed by the voice of the customer." The leadership changes in HSBC's UK operations are the latest in a series of executive changes in this Asia-focused bank, coinciding with Elhedery's tenure as HSBC CEO for 6 months. HSBC announced a plan last October to merge certain business lines, divide its geographic footprint into East and West, and eliminate duplicate positions to reduce costs and boost revenue. This is one of the largest overall restructurings for the London-based bank in years. In recent months, there have been several senior management departures. HSBC stated that the process of appointing a successor to Stuart as CEO of the UK operations is underway, and further updates regarding this and his start date in the new position will be provided in due course.